AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Counseling Helps Cash Flow.
New York -- As more and more lenders begin working with credit counseling agencies to improve contact rates with delinquent borrowers, they are finding that counselors provide more than just a way to get borrowers talking about solutions to their home loan problems.
Mike Radesky, a consumer loan risk operations executive at Bank of America, said one of the key benefits of the relationship with credit counseling organizations is that it can improve contact ratios with delinquent borrowers. Bank of America is one of the early adaptors working on an initiative to put loan workout software in the hands of credit counselors, so that they can begin the process of negotiating a repayment or loan modification.
"The technology is good and we are using it where we can, but we have to get in touch with the customer for the technology to work," Mr. Radesky said.
But another advantage counseling agencies bring to the equation is that they can negotiate with a borrower's other creditors, and are often successful at negotiating reductions in unsecured, revolving credit card debt. That can improve cash flow and pave the way for a ...
- National Credit Counseling Agency Offers Smart Strategies For Increasing...
- Press release article from: PR Newswire February 10, 2004 700+ words
...personal finance education and credit counseling organization, offers tips on smart strategies to increase cash flow in the coming year; to not just...personal finance education and credit counseling. The InCharge Institute family...
- Record Number of Businesses Complete Debt Restructuring Program at Commercial...
- Press release article from: PR Newswire February 16, 2006 700+ words
...Commercial Credit Counseling Services, Inc...and have sufficient cash flow monthly to fund the...About Commercial Credit Counseling Services, Inc...1998, Commercial Credit Counseling currently manages...
- Whither consumer credit counseling?
- Magazine article from: Business Review (Federal Reserve Bank of Philadelphia) Hunt, Robert M. December 22, 2005 700+ words
...For more than 50 years, nonprofit credit counseling organizations have been helping consumers...Despite this long track record, credit counseling is not without controversy. In recent...and the emergence of a new type of credit counseling agency have triggered significant...
- Improving financial lives goal of CCCS.(Consumer Credit Counseling Service)
- Magazine article from: Mississippi Business Journal Gillette, Becky July 11, 2005 700+ words
...went to the Consumer Credit Counseling Service in December...I am for Consumer Credit Counseling. The counselors are...happen, and their cash flow is affected. Most...things can trigger cash flow problems. People...
- Banks team up to offer credit counseling. (Community banking)
- Magazine article from: American Banker Zahodiakin, Phil June 3, 1993 700+ words
...forces last week to provide credit counseling for low-income and moderate...North Side originally tried credit counseling in 1991. Working with a community...counseling to people who have the cash flow to support a mortgage, but...
- Programs hook up small biz to cash, credit counseling.(credit union program...
- Magazine article from: Crain's Detroit Business Stanard, Alexa January 19, 2009 700+ words
...business owners get their hands on needed resources or credit counseling. Many business owners might find the best option is a trusted...working capital, then we'll work with them to do their cash flow projections and their business plan. Then we should be able...
- Debt-Laden Consumers Can Find Help at Credit Counseling Service.(Knight...
- Newspaper article from: Knight Ridder/Tribune Business News Hopper, Kathryn January 17, 2000 700+ words
...ago, the Campbells finally decided to visit the Consumer Credit Counseling Service in Fort Worth, a nonprofit debt counseling service...busiest month for local debt counselors as consumers face a cash-flow crunch brought on by hefty holiday spending. This holiday...
- Top New Year's Money-Related Resolutions Recommended by Consumer Credit...
- Press release article from: Business Wire January 5, 2004 700+ words
...health," said Joe Curiel, manager of education at Consumer Credit Counseling Service of Los Angeles(R) (CCCS-LA). "A lack of...on various money management topics such as budgeting and cash flow management; credit, debt, and credit reports; and saving...
